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A Quick Guide To Starting An Engineering Company

There are countless opportunities in the world of engineering. We are constantly building higher, digging deeper, and exploring the limits of technology. The demand for engineers is expanding rapidly. In fact, it’s one of the only traditional industries that continues to thrive. The reason is that engineering is intrinsically linked to technology, which evolves and develops every day. Following the lead of the tech world, engineering is embracing more and more startup companies. Freelance and small business are growing to dominate the world of engineering. Let’s make 2016 the year you start your own company! Here’s what you need to get started.

Find a niche – First and foremost, you need to understand that the engineering world is built on niche experts. No client is looking for a jack-of-all-trades here. You need to be the best at something. What are your main passions and experience in this industry? Tap into those experiences, and make them your mission. Put all your efforts and skills into one specific niche. Start to establish yourself as the industry expert in one specialist area. You can always expand as you grow larger.

Experience – Unfortunately, engineering is not a career you simply walk straight into. Especially when it comes to starting your own business. It is highly skilled, and requires years of experience. It’s always best to build your experience with an established company first. Get a sense of how the industry operates, and where the opportunities are. When the time comes to take things to the next level, you’ll know exactly what moves to make.

Contacts – Again, this relates to your experience level in the industry. The engineering world relies heavily on good networking and word of mouth. Your next job will come from referrals and regular contacts. Not only that, but you’ll need a long list of supply contacts. Engineering revolves around the supply trade. Self-starting engineering company CCTY Bearing explain how they secure most of their business through previous clients and contacts. It’s time to start networking, and building your contact list.

Marketing skills – As a salaried engineer working for a larger company, you’ve probably never had to deal with marketing before! But, as a new business, it’s going to become a big part of your role. It’s now essential to actively seek work, and find your next client. That means becoming a master of marketing techniques. You can now establish your company online by using digital marketing tricks. Social media, search engine optimisation and online adverts can give your startup a good headstart.

Business acumen – No matter how great your engineering skills, you’re now also a CEO! That means sharpening your business acumen. You need to craft a watertight business plan, and manage the accounts with precision. You’ll also have to register your company with the government, and file your own tax returns. This is the only downside of running your own company! It’s often worth hiring a business manager to take care things for you.

Engineering startups are popping up all over the industry. These specialist, niche companies are the new norm in the engineering world. Perhaps you’re the next success story! Think you’ve got what it takes?

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